Sec books and records rule 17a 4

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SEC Rule 17a-4 - Wikipedia

Looking for a great weekend read? Too many firms continue to drop the ball on SEC Rule 17a-4, missing easy opportunities to maintain regulatory compliance. It also establishes how long those records should be maintained and how they should be stored, which is where subsection f comes in. Instead, demonstrating an appreciation for technological changes to come, the Rule characterizes electronic storage media primarily by what it can do. The key components of electronic storage media are enumerated in subsection f 2 ii , which states that the media must:. Preserve the records exclusively in a non-rewriteable, non-erasable format WORM ;. Verify automatically the quality and accuracy of the storage media recording process;.
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Published 22.12.2018

The Securities Exchange Act of 1934

Summary: The Securities and Exchange Commission today is adopting amendments to its broker-dealer books and records rules. The amendments clarify and expand recordkeeping requirements with respect to purchase and sale documents, customer records, associated person records, customer complaints, and certain other matters.

SEC Rule 17a-4

Home Previous Page. The amendments clarify and expand recordkeeping requirements with respect to purchase and sale documents, customer records, associated person records, customer complaints, and certain other matters, and require broker-dealers to maintain or promptly produce certain records at each office to which those records relate. Certain provisions of these amendments contain "collection of information" requirements within the meaning of the Paperwork Reduction Act [44 U. OMB has approved the collection of information requirements contained in the amendments to the Books and Records Rules. Amendments to Rules 17a-3 and 17a-4 Rules 17a-3 and 17a-4 1 under the Securities Exchange Act of 2 the "Exchange Act" hereinafter the "Books and Records Rules" , specify minimum requirements with respect to the records that broker-dealers must make, and how long those records and other documents relating to a broker-dealer's business must be kept. The amendments to Rule 17a-4 require that a broker-dealer: maintain a record of advertisements and other "communications with the public;" clarify the definitions of organizational documents; and set recordkeepint requirements for new records required to be created pursuant to the amendments to 17a-3, certain exception reports and special regulatory reports, and written compliance, supervisory and procedure manuals. Finally, the amendments to Rules 17a-3 and 17a-4 also set forth, i the definition of "office," ii what records must be created as to each office, and iii what records must be maintained at each office.

As used in this paragraph b 4 , the term communications includes sales scripts. Notices, whether written or communicated through the internal broker-dealer trading system or other automated means, shall be preserved under this paragraph b 11 if they are provided to all customers with access to an internal broker-dealer system, or to one or more classes of customers. Examples of notices to be preserved under this paragraph b 11 include, but are not limited to, notices addressing hours of system operations, system malfunctions, changes to system procedures, maintenance of hardware and software, and instructions pertaining to access to the internal broker-dealer system. In lieu of maintaining the reports, a member , broker or dealer may produce promptly the reports upon request by a representative of a securities regulatory authority. If a report was generated in a computer system that has been changed in the most recent eighteen month period in a manner such that the report cannot be reproduced using historical data in the same format as it was originally generated, the report may be produced by using the historical data in the current system, but must be accompanied by a record explaining each system change which affected the reports. If a report is generated in a computer system that has been changed in the most recent eighteen month period in a manner such that the report cannot be reproduced in any format using historical data, the member , broker or dealer shall promptly produce upon request a record of the parameters that were used to generate the report at the time specified by a representative of a securities regulatory authority, including a record of the frequency with which the reports were generated.

Looking for a great weekend read? Too many firms continue to drop the ball on SEC Rule 17a-4, missing easy opportunities to maintain regulatory compliance. It also establishes how long those records should be maintained and how they should be stored, which is where subsection f comes in. Instead, demonstrating an appreciation for technological changes to come, the Rule characterizes electronic storage media primarily by what it can do. The key components of electronic storage media are enumerated in subsection f 2 ii , which states that the media must:.

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